Edison Man Admits Diverting $1 Million of Income
Sameer Gupta pleaded guilty in court to diverting more than $1 million in domestic and foreign banks to evade paying taxes on the money
An Edison co-owner of a wholesale adult paraphernalia business in New York City admitted in court Tuesday to concealing more than a million dollars in income in various domestic and foreign bank accounts. Sameer Gupta, 33, pleaded guilty before U.S. Magistrate Judge Patty Shwartz in Newark to one count of tax evasion in connection with his diversion of funds from the wholesale merchandise business, J.S. Marketers Inc. Some of the diverted funds were deposited and held in undisclosed foreign accounts at HSBC in India. According to U.S. Attorney Paul J. Fishman and statements made in court and court documents, Gupta is a 50 percent owner of J.S. Marketers Inc., which sold adult paraphernalia to large adult-store chains and smaller retail …
MrDoughnut
7:02 pm on Tuesday, March 26, 2013
This is typical. Considering the press releases I had seen these acts are standard fare over in the Iselin Section of Woodbridge. more ›